dno joins exxonmobil on baeshiqa license in kurdistan assumes operator
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

DNO Joins ExxonMobil on Baeshiqa License in Kurdistan; Assumes Operator

Arab Today, arab today

Arab Today, arab today DNO Joins ExxonMobil on Baeshiqa License in Kurdistan; Assumes Operator

DNO Joins ExxonMobil on Baeshiqa License in Kurdistan; Assumes Operator
OSLO - WAM

DNO ASA, the Norwegian oil and gas operator, today announced an agreement with ExxonMobil to join the Baeshiqa license in the Kurdistan region of Iraq.

DNO will assume operator-ship of the license with a 40 percent paying (32 percent net) interest, acquiring one-half of ExxonMobil's position. ExxonMobil retains a 40 percent paying (32 percent net) interest, the Turkish Energy Company (TEC) its 20 percent paying (16 percent net) interest and the Kurdistan Regional Government its 20 percent carried interest.

Pending Government approval, DNO will drill an exploration well in the first half of 2018 with a second exploration well to follow on a separate structure.

The 324 square kilometer license is situated 60 kilometres west of Erbil and 20 kilometres east of Mosul. ExxonMobil had previously conducted extensive geological and geophysical studies and constructed a drilling pad before work was interrupted due to security conditions in the region.

The Baeshiqa license contains two large, undrilled structures which are expected to have multiple independent stacked target reservoir systems, including in the Cretaceous, Jurassic and Triassic.

DNO currently operates two other licenses in Kurdistan: one contains the Tawke and Peshkabir fields which together produce over 110,000 barrels of oil per day and the other the Benenan and Bastora heavy oil fields which are undergoing further appraisal and development. With three rigs currently deployed, the company is the most active driller among the international operators in Kurdistan.

"We are pleased to partner with ExxonMobil, TEC and the Government on this exciting exploration opportunity," said Bijan Mossavar-Rahmani, DNO's Executive Chairman. "We bring to the project a 10-year record of successful and fast-track operations in Kurdistan, culminating in more than 200 million barrels produced to date," he added. "Following regularization of export payments and a landmark agreement with the Government to close out our historical receivables, our foot is back firmly on the accelerator."

DNO ASA is a Norway-based oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland. Its largest shareholder is UAE-based RAK Petroleum.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dno joins exxonmobil on baeshiqa license in kurdistan assumes operator dno joins exxonmobil on baeshiqa license in kurdistan assumes operator

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dno joins exxonmobil on baeshiqa license in kurdistan assumes operator dno joins exxonmobil on baeshiqa license in kurdistan assumes operator

 



GMT 10:13 2016 Friday ,19 February

France prop Atonio extends La Rochelle deal

GMT 12:08 2018 Sunday ,07 January

Monfils predicts 'tough' Australian Open

GMT 06:51 2017 Monday ,04 December

WUNDER2 launches new liquid eyeliner

GMT 15:03 2017 Monday ,16 October

Icardi hat-trick as Inter reign in Milan

GMT 16:38 2018 Saturday ,08 September

3,500 UAE job opportunities for Emiratis in next 100 days

GMT 17:29 2012 Tuesday ,05 June

Thought-controlled robotics

GMT 02:05 2018 Wednesday ,03 January

Pakistan summons US ambassador

GMT 00:27 2017 Tuesday ,21 February

Kuwaiti parliamentary delegation to visit Bahrain

GMT 00:56 2017 Monday ,20 February

Brazil’s evangelicals pray for sinful politicians

GMT 08:17 2017 Tuesday ,12 December

Actress Nadeen Al Rassi joins new Arab show

GMT 13:57 2017 Wednesday ,30 August

Bahrain Bourse daily trading performance

GMT 18:27 2011 Saturday ,09 April

Nigerians gather to vote after deadly bomb blast
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday